Minutes before lawmakers and Vice President Joseph Biden met to discuss a funding measure to keep the government operational through the fiscal year, the Obama administration offered the first formal compromise.

Briefing reporters at the White House while negotiators made their way to the VP's office on the Hill, top administration officials said they had agreed to cut another $6 billion from the measure (and would be willing to go even further) in an attempt to bridge the party divide.

We have made it "clear that we can meet them halfway," said top economic adviser Gene Sperling at an off-camera briefing for reporters, "[W]e have made it clear we are committed to doing that and we are willing to cut further if we can find common ground on the budget with reducing spending in the right way while protecting our investments in education, innovation and research."

The question is whether or not they think they have to close the deal, or if they simply wish to be perceived as being reasonable. If it's the latter, they can offer the moon publically and be rebuffed, and walk away the victors without having given away a thing. If it's the former, we're fucked. Wish I was confident in our team. Hell, I wish I was confident they *are* our team.